Shanghai (ZXZC)- Caocao Zhuanche, an electric vehicle sharing platform backed by Chinese automaker Geely, announced on February 14 that its brand and services have been upgraded into “Caocao Mobility”.

Meanwhile, the new platform's user-end application has been updated to the 4.0 version with a new feature dubbed “Caocao Zoubei (Hangzhou)”. When users log in the application in Hangzhou, where the company is headquartered, they are allowed to use the brand-new function that recommends some food and entertainment choices for people in forms of photos or literal introduction. In addition, users can follow each other on the application and comment on such services.

Founded in 2015, Hangzhou-based company has obtained the license for ride-hailing services in 71 cities across China and deployed around 32,000 NEVs by the end of 2018.

China's ride-hailing industry is getting more and more players from traditional automakers. SAIC Motor formally launched its mobility brand known as “Xiangdao Chuxing” on December 18, 2018. In the same month, BMW Group announced the launch of its ride-hailing service in Chengdu, the capital of China's Sichuan Province, as part of the businesses under the premium mobility brand ReachNow. Moreover, JAC Motors also steps into this domain by launching the ride-hailing platform named “Hexingyueche” last month.

Apart from the competition against other companies, the Geely-backed platform may face a possible rivalry from the same parent company. Daimler Mobility Services GmbH and Geely Group Company, Zhejiang Geely Holding Group's new business subsidiary, announced in last October that they would build a joint venture in China to provide premium ride-hailing services. Thus, it is very crucial for Caocao Mobility to have its own unique traits and clear position to support a long-term development.